Which of the following is true of the "deferred posting rule"?
A) It allows banks to fix an afternoon hour of 2:00 or later as a cutoff hour for the purpose of processing checks and deposits.
B) According to this rule, when a customer deposits a check for collection, the depository bank does not have to pay the customer until the check clears.
C) It mandates banks to mail their checking account customers monthly statements of their accounts and any canceled checks should accompany this statement.
D) According to this rule, a customer is liable for payment to his bank if he fails to report any unauthorized transactions within 30 days from the receipt of the account statement.
A
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Which of the following bonds pay no interest until maturity?
A) zero-coupon bonds B) registered bonds C) serial bonds D) debenture bonds
The letter of transmittal is used:
A) to deliver the document B) to deliver the document to a client outside the firm C) to deliver the document within the firm D) only when the document is transmitted electronically E) only when the document is displayed publicly
Standard material costs, standard labor costs, and standard overhead costs can be obtained from standard cost tables published by the Institute of Management Accountants.
Answer the following statement true (T) or false (F)
Caveat emptor refers to
A. the Latin term meaning that 'all is fair in love and war,' an attitude that was held by most marketers prior to the 1990s. B. the legal concept of 'let the buyer beware,' which was pervasive in the American business culture prior to the 1960s. C. the marketing concept of 'be first or be last,' implying that the first company to the marketplace wins. D. the Latin phrase meaning 'empty promises,' which was a charge placed upon many firms during the period after WWII when products failed to meet their marketing claims. E. the legal concept of 'such is life,' which created many illegal as well as legal but unethical business practices during the 1980s.